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   Technology StocksCree Inc.


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To: slacker711 who wrote (9919)11/19/2019 8:07:34 AM
From: slacker711
1 Recommendation   of 10250
 
They signed the original agreement with STM in January and have now doubled it 11 months later.

Cree and STMicroelectronics Expand and Extend Existing Silicon Carbide Wafer Supply Agreement
NOVEMBER 19, 2019
Durham, N.C. and Geneva, — Cree, Inc. (Nasdaq: CREE) and STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced today the expansion and extension of an existing multi-year, long-term silicon carbide wafer supply agreement to more than $500 million. The extended agreement is a doubling in value of the original agreement for the supply of Cree’s advanced 150mm silicon carbide bare and epitaxial wafers to STMicroelectronics over the next several years. The increased wafer supply enables the semiconductor leaders to address the rapidly growing demand for silicon carbide power devices globally, particularly in automotive and industrial applications.


“Expanding our long-term wafer supply agreement with Cree will increase the flexibility of our global silicon carbide substrate supply. It will further contribute to securing the required volume of substrate we need to manufacture our silicon carbide-based products as we ramp up production over the next years for the increasing number of programs won at automotive and industrial customers,” said Jean-Marc Chery, President and CEO of STMicroelectronics.

“Silicon carbide delivers performance enhancements that are critical to electric vehicles and a host of next-generation industrial solutions for solar, energy storage and UPS systems,” said Gregg Lowe, CEO of Cree. “Cree remains committed to leading the semiconductor industry’s transition from silicon to silicon carbide, and the extension of the agreement with ST ensures we are able to meet the accelerating, global demand for this solution across a diverse range of applications while accelerating the market.”

The adoption of silicon carbide-based power solutions is rapidly growing across the automotive market as the industry seeks to accelerate its move from internal combustion engines to electric vehicles, enabling greater system efficiencies that result in electric cars with longer range and faster charging, while reducing cost, lowering weight and conserving space. In the industrial market, silicon carbide modules enable smaller, lighter and more cost-effective inverters, converting energy more efficiently to unlock new clean energy applications.

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To: slacker711 who wrote (10095)11/19/2019 8:48:12 AM
From: Lou Weed
   of 10250
 
The deals keep on rolling in - sowing seeds for the future and SiC IS the future of high voltage power semiconductors :-)

B2

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From: slacker71111/20/2019 8:05:55 AM
   of 10250
 
Cree investor day

cree.com

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To: slacker711 who wrote (10097)11/20/2019 8:18:50 AM
From: OldAIMGuy
   of 10250
 
Thanks for the link.......

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From: slacker71111/20/2019 11:41:26 AM
2 Recommendations   of 10250
 
Cree presentation from their Analyst day.

sec.gov


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From: slacker71111/21/2019 8:00:23 AM
2 Recommendations   of 10250
 
"We're at the early phase of the adoption of electric vehicles. Right now, less than 1% of the cars in the world are electric," Lowe said. "Just about everybody is forecasting by the end of this coming decade that 20% at least of the cars will be electric. There's 100 million cars produced every year. That's 20 million cars. So it's a big opportunity."


Lowe said each of those cars might have somewhere between $300 and $600 worth of silicon carbide content. Multiply that by 20 million cars, he said, and "it's big bucks."




bizjournals.com

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To: slacker711 who wrote (10099)11/21/2019 10:46:25 AM
From: slacker711
2 Recommendations   of 10250
 
I'm going to put up some slides from the analyst day that I find interesting.

If you measure the first block at assume it represents $600m, then the height of the 2024 block is actually ~$1.5 billion....and the unlabeled block is right at $1 billion.

The next 18 months will be fairly stagnant, but growth at Wolfspeed should accelerate substantially in FY2022.

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To: slacker711 who wrote (10101)11/21/2019 10:49:21 AM
From: slacker711
2 Recommendations   of 10250
 
This slide explains the delay in revenue growth.

Cree is winning some design wins today (both component and wafer) but sales won't start until 2022 and won't be fully ramped until 2024.

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To: slacker711 who wrote (10102)11/21/2019 2:23:23 PM
From: slacker711
2 Recommendations   of 10250
 
One point that I thought was stressed yesterday was that they were currently ill equipped to supply component demand. This slide also shows just how much more material capacity that they are putting into place versus component capacity.

I assume that the "<50% of our long-term capacity" means the maximum capacity allowed by existing buildings.


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From: slacker71111/24/2019 6:24:57 PM
2 Recommendations   of 10250
 
I am skeptical about the Cybertruck selling well, but the breakdown between the models is hugely bullish for Cree. My understanding is that each motor requires a separate inverter containing silicon carbide components.

We can hope that Ford and GM are paying attention and will offer EV truck models with multiple motors.


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